Question: I don't know where I went wrong. I tried round to 0 decimal place as well but they were also wrong. Please provide every steps

I don't know where I went wrong. I tried round to 0 decimal place as well but they were also wrong. Please provide every steps of detailed calculations. Thank you!
I don't know where I went wrong. I tried round to 0
decimal place as well but they were also wrong. Please provide every

Current Attempt in Progress Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April: Cost Sales April 1 $ 43,734 3 Beginning inventory 74 units Purchase 52 units Sale 26 units 32.708 S $ 30,004 11 Purchase 26 units 17.004 15 Sale 62 units 79,670 22 Sale 38 units 47.386 28 Purchase 48 units 32,832 Soft Touch uses the periodic inventory system. ghted average (Round calculations for cost per unit to 2 decimal places, eg. 10.52. Round answers under weighted average to 2 decimal places, es 61,052.79) Cost of Goods Sold Gross Margin Ending Inventory FIFO 76042 $ 80618 $ 49836 ii. Weighted average 77417.68 $ 7964232 $ 48859.44 eTextbook and Media Your answer is partially correct, Which cost formula produced the higher gross margin ratio? (Round answers to 2 decimal places, es, 61.05%) Gross Margin Ratio Firo 96 5133 Weighted average 50771

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!